Chinese buyers account for about half of the units bought at a downtown condo development called Harbour Green, where the average unit costs $5.5-million.
“There are over 3,000 Chinese families who migrate to Canada under the business category every year,” said Vincent Chen of Visas Consulting Group, who helps families move to Canada from his office in Shanghai. “At least 60 per cent of these families choose Vancouver to settle down – and a major part of them will buy property there, sooner or later.”
“The thing that will make people buy property is they have to want to move to Canada – that is the thing, for them to want to invest in another country and not their own,” she said. “They buy property here not for investment, but because they are willing to move here.”
Canada draws a growing number of Filipinos - Government programs are attractive to foreign workers and many opt to stay. Filipinos – the largest source for immigrants and temp foreign workers in Canada